We would love to hear your thoughts about our site and services, please take our survey here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Whatever PM chooses to do: They can't transfer assets or funds to another (JV or other) company which is not part of PM. The asset (e.g. Heron) will remain a PM asset come hell or high water. Any attempt to do otherwise would mean getting PM into big trouble.
Should be no change in LP paperwork. Just a case of Ministry of Construction & urban development want ing to be the ones doing the submission to Cabinet and take bit of glory. Ministers already seen the paperwork just different delivery boy this time.
Renewables JV deal paperwork would be totally different.
Things get bit tangled here i think coz of different moving parts each at different stage.
Velociraptor-1 all good to go
Heron-1 should also very soon be good to go
Renewables- new JV company set up - this is new
Will need more details in coming days on the Renewables JV deal specifics.
B.Baatarmunkh: "In addition to the EXPORT of Renewable Energy, industrialization based on Renewable Energy will provide a great opportunity for Mongolia - BloombergTV Mongolia (23 May 2023)
Think mr Buck a VERY clever man ;)
Can argue still in final stage of completion so company structure set up & other detail need to be agreed.
Lot if way around this I think Mr Hamm ;)
I thought legally they have to release any sensitive/ important news.
JV and no RNS for that!
Mr Ninetoes
Maybe you right but in RNS mr Buck mention PSC / fiscal term for new block. Think he try to get shareholder off scent because too early to reveal sir but also must have reference to truth of new Block.
Will see sir but WIN/WIN for shareholder so this is main thing :)
WOS I don't agree about Heron not being part of JV. I don't think a government ministry would be interested in teaming up for an extensive round of wildcat drilling in new blocks. What MG needs is their refinery filled when it opens. This cannot be done overnight. The wells need to be drilled in sufficient numbers over the next two years to get there. This has to be their priority and hopefully we can benefit as well.
Do not think Heron will be under any new JV company sir & will understand with all legacy cost & forward revenue.
Will be NEW BLOCKS and with PSC & fuscalnyerm under discussion (all decide now)
BIG push in Oil Sector development & lot if talk of in country experience. Think new company with Mongol Govt JV partner brilliant move to attract foreign JV partner also for remaining percentage.
Only 3 bid from 5 tender in Phase 1 and can see attraction of JV Petro Matad / Mongol Govt company to partner on new oil blocks.
Mr Buck dud say new oil block development with production revenue / JV.
New comlanybfit this perfectly & to feed Mongol National Wealth fund.
Big picture intel make lot of thing clear & why I see Petro Matad triple digit forward price :)
Dowzabba,I don't think the paper work before submission to cabinet will change unless they plan to have heron under the JV new company
The LP will still be under the MATD original, also if that was the case then they would have to say they need to re prepare the paper work
Anyways RNS stated they land development will just need to do it
No more extra info and I think it's best we don't start assuming things that we haven't been told, it seems there is alot if that in this board and people either don't believe or read the RNS properly,.
So far nothing stated in RNS s have been other then that
Anyone who do research on CURRENT Mongol Govt policy know about VISION 2050.
vision250.gov.mn/eng/vis4.html
Will know why Govt push foreign investment and law change to help this. Also will know about National Wealth Fund to make bigger middle-class population.
Will focus on PRIORITY ECONOMIC SECTORS and think part of this feed into JV partnership with Petro Matad to develop OIL SECTOR with PSC AND Production Revenue.
Mongolia is place to invest and we have opportunity for this through Petro Matad in rich GROWTH sector :)
Very exciting time for share holder but BUY or not no problem. I just give my opinion & intel
Think price will build back up into this anyway
This in around 10-15 trading day approx :)
That would be an epic RNS
There'll be a Heron update when the Velociraptor spud RNS comes.
I'm happy to wait.
Spudding and a +ve Heron update would make for a nice 7am wake up.
That is precisely the crux of the matter (and thanks to Dozzawba for this pertinent observation). Indeed, I can't imagine that MB would take on a drilling project from Velociraptor without having received assurances from the responsible Mongolian authorities that the LG for Heron will also be issued in a timely manner. So if Dozzawba is correct (which I assume he is), the LP should still be granted in the next 3-5 weeks. This would also fit in terms of timing if the only thing remaining for the administrative procedure is the signature of the responsible ministries (as suspected by some here). Therefore, the coming weeks are going to be very exciting.
Which is a clear evidence that this board is thoroughly censored and admin dislike critically thinking posters. But I will continue to express my opinion and confidence that the main and only reason we are loosing money it is MB itself. He was hired first all off for to attract as many as possible British and other foreign investors. Therefore his appointment was so widely publicised and former chairwoman of Petrovic has even describes him as "one of the world's most highly calibrated oil professional". In respond he started praise MG by pouring on us his lies about their great support of the company. Initially I thought he was being used as a "useful idiot" who did not understand the local corruption specifics. But when instead of real actions and demands he, on contrary, retired to his Singapore residence, it became clear that he was in the same boat with all these crooks and he did not care about the interests of investors. All this ugly and shameful situation when we are loosing a lot of money has taken him no more than "frustrations". Therefore please bear in mind, just to sit and wait for something positive from all this crooks, who are stealing and will continue steal our hardly earned money, would be a madness. In contrary we need to bombard and not give them any rest. And if the LP will not granted within 1-2 months inform SFO demanding prosecution.
Wos, Don't appreciate your wrong reply.
ID78, I understand what you are saying and appreciate your response.
Mastre, I am still in and holding my shares and will not sell hoping to get LP. When LP comes the prize will be amazing.
Ojay, understood thanks any way.
Just a bit disappointed. That is all.
Hamm, I understand what you are saying but
1) seemingly we have a good relationship with the central government (re the IOM meeting and whatever was going on) - MB would not seek to our cold water on it be being impatient
2) imagine worst case - no LP this year and we didn’t drill VR having raised the funds and sorted out a team to drill. Everyone here would call for him to go ‘another year and nothing happened etc, etc)
A disaster would have been an RNS stating 'waiting on the Land Permit' and 'something's cropped up with the rig for Velociraptor and we're attempting to re-schedule'.
Velociraptor is happening, tick.
Land permit will come when it comes, tick.
Petro Matad can only do what they can do.
Apply a little pressure to the Mongolian Government and strike oil!
It's an oil exploration company doing what they should do..... explore for oil.
And there again it might not. Will be a disaster if it doesnt before raptor. All back to front and no revenue
The meetings are every two weeks so there will be three at least before raptor results. They had at least two special land issues on the agenda on Monday so lets hipe ours is on Monday week's agenda.
Certainly very interesting but what is a Regular Urgent Meetings. How many times a year do they call a regular meeting that is urgent. Either it is an urgent meeting or it is a regular meeting surely it cannot be both. What could happen is that something urgently gets added to the areas that need to be discussed. Either way it should be interesting.
“Following on DOZs point , imo there is no point in MB drilling Velicoraptor unless the Mongolian can absolutely guarantee LP , if there isn’t a guarantee drilling would be a complete waste of time and money .GLA“
I’d also like to think that MB had been given a positive nod on the LP before we started helping the locals out with their recent wildfires, given that we have already provided financial assistance for a number of other things previously, all without having any success.
If that is the case then we should see LP in a week or 2 but certainly before spud.
it really make sense that they have already seen it and that is why they are aware of it and they wanted to have say too.
Ah. I see. So all ministries have seen it. Just that Ministry of Construction and Urban development wants to submit it.
That should be pretty swift then.